Kiffmeister’s #Fintech Daily Digest (08/28/2020)

In world first, bank-issued stablecoin used at online retailer

The Sygnum Digital Swiss Franc (DCHF), which is pegged on a 1:1 basis with the fiat currency, was used to complete a payment for an Apple iPad at Digitec Galaxus, Switzerland’s largest online retailer. Coinify, a digital currency platform provider, enabled the sale to take place. Sygnum said its offering stands out against other stablecoin issuers such as Tether because it is a regulated bank—meaning one Swiss franc is verifiably held as collateral for every DCHF that is in circulation. 

Posted from Diigo: